During the meeting the municipal leader briefed the Singaporean delegation on Hanoi’s development, saying that over the past decade, the city’s GDP soared 7.41% per year with per capita income of locals reaching US$5,200 and each year, the city welcomes about 24.5 million visitors, including 6.5 million foreigners.
Hanoi is priotizing on expanding transport infrastructure, building e-government for smart city building, and developing high quality human resources with the purpose of training some 300,000 IT engineers by 2025, Chung said.
However, he pointed out a number of challenges facing Hanoi, including water and air pollution, traffic congestion, and fire risks while affirmed the city’s desire to seek partnership with foreign businesses, including those from Singapore, to deal with those problems.
Hanoi incentivizes businesses to invest in start-up ecosystem and smart city, including air censoring, water supply, fire prevention as well as smart transport, tourism and trade centre building.
The city is ready to provide support and incentives to investors, including assistance in vocational training, and the construction of houses for workers, he said.
Teo Siong Seng, in turn, hailed Hanoi’s policies regarding sustainable development and programmes to encourage investment in the city, noting that Singaporean firms want to invest in the fields encouraged by the capital city, including infrastructure development, technology, transport, services, human resources training and health care.
Singaporean firms desire to support local businesses in Hanoi to expand their operations as a contribution to further fostering the Vietnam-Singapore partnership.